Wanted to know how does a trade work with an out of state dealer? I want to buy a car from a out of state dealer but have a trade in
Most don’t unless you have a rare car.
Found a killer deal, but they won’t take my trade in
So sell it to Carvana or Carmax then.
2 Likes
Just don’t want the hassle having to deal with selling car, plus, if you sell it to a dealer you save on tax on the new car.
I know, you can probably get more by selling it yourself.
They don’t want to deal with the hassle of a car sight unseen and uninspected and a shipping company to boot.
Carmax and Carvana are dealers, but the tax savings are not transfered which is true.
It literally took me an hour when I entered my VIN and details in about 15 places off this list. If this is too much of a hassle to potentially leave thousands on the table then I’m not sure what to tell you.
List of places to sell or value your car online - Wiki - FORUM | LEASEHACKR
1 Like
And they don;t want to deal with the hassle of a trade ruining their deal. It’s okay, move on and pick your battles. If trade is a must have issue, find another dealer.
Also, most states don’t give tax savings on a financed car trade in for a leased vehicle. It’s treated as a separate transaction in many states.
I see, kinda make sense. The way I see it is, if I take one from them, they have to take one from me. That’s fair.
Also, I want to know how to structure a deal
If you factor in the rebates in the discount on the vehicleYou save on tax but if you do the rebates separately, you get less discount, you end up paying more on taxes. Am I right?
Which is a better way to go?
Because NY taxes rebates
I wanted to know which way is better?
Not sure what the question is. Obviously paying less taxes is better, but usually you don’t get to decide whether it is to be included as a discount or as a separate line item.
Most of the dealers i contacted has the rebates factored in with the discount
Rebates factored in with discount or rebates done separately
What car are you looking at and what is the rebate?
It’s a Benz EQS, it has $15500 rebates
(Amex/penfed/AAA, lease cash bonus and drive clean rebate)
This is a common tactic in which dealers advertise a large discount, which is made up of two components.
For the sake of an example let’s say a dealer is advertising $15,000 off however upon further inspection you realize the dealer is giving up $2500 off MSRP and another $12,500 is in the form of incentives from the lessor or manufacturer.
It gives the appearance of great deal while not actually being a great deal. Especially if the standard dealer discount on that vehicle is $6000 then you left $3500 on the table. You learned that the $6000 discount is achievable through research on here.
That’s because the majority of that $15k is lease cash to the dealer, so it’s better to be listed as a dealer discount so you’re not taxed.
I figured that out, that it’s a bait and switch, but if you could get a bigger discount, factoring in the rebates. You do save on taxes
I think dealer prefer rebates factored in with discount
How come when you do it on the calc is has a lower score?
Its preferrable to buy in your own state as I have faced some issues earlier. However, if you have an expert with you, you should go for it. I was initially a noob.
This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.